22 C
Georgetown
Saturday, January 16, 2021

T&T’s NGC signs energy agreement with Grenada’s CPG

Must Read

ExxonMobil comes up dry at Hassa-1 offshore Guyana

Drilling at the Hassa-1 prospect in the Stabroek block offshore Guyana has failed to encounter hydrocarbon resources, ExxonMobil said...

SBM Offshore gets ‘Best Oil Platform Operations’ award from Brazil’s Petrobras

Dutch floater specialist SBM Offshore, operator of the Liza Destiny FPSO in Guyana, has received the ‘Best Oil Platform...

Giant oil finds in Guyana and Suriname point to major frontier – Brazil Petroleum Studies

The recent giant discoveries made in the deep and ultra-deep waters of Guyana, Suriname and French Guyana have proven...
OilNOW
OilNow is an online-based Information and Resource Centre which serves to complement the work of all stakeholders in the oil and gas sector in Guyana.

The National Gas Company (NGC) of Trinidad & Tobago has finalised a commercial agreement with the Global Petroleum Group (GPG) operating in Grenada, according to an article in the OECS Business Focus.

The agreement is said to mark a major development in the collaboration and energy cooperation among Caricom countries and was called an important pillar in growing and strengthening the region’s economies.

“The relationship between the two companies is a result of the Energy Sector Development Framework Agreement signed between the Government of the Republic of T&T and the Government of Grenada. GPG is an oil and gas company currently undertaking exploration and appraisal activities off the south coast of Grenada, near the Patao/Dragon fields in Venezuela and North Coast Marine Area (NCMA) fields in Trinidad,” the article quoted the NGC as saying.

According to the article, NGC Chairman Gerry Brooks indicated that with the support of Government, the company will continue to work closely with GPG and the Grenada Government as the project progresses. “Brooks articulated his optimism that the framework agreement between the two Governments will foster a partnership of mutual benefit and growth opportunities for both countries. The agreement signals NGC’s unwavering resolve to meet the challenge of gas supply in Trinidad & Tobago by providing a ready market for the sale of natural gas and natural gas liquids (NGLs),” the article said.

Brookes is reported to have said that to effectively monetise any gas reserves in the fastest possible time, NGC will utilise existing domestic infrastructure “as well as leverage our four decades of experience and technical proficiency in pipeline construction and natural gas transportation.”

It said too that the company has facilitated numerous early business development projects which have shaped the local natural gas landscape. “It is these capabilities and expertise which NGC will utilise to assist GPG in developing Grenada’s natural gas-based energy sector,” the article said.

The article said that NGC and GPG will continue joint studies to determine the best fit to provide natural gas-based fuel to meet Grenada’s domestic gas requirements “as well as, any other areas of mutual benefit relative to the energy sector in the region.”

Latest News

SBM Offshore gets ‘Best Oil Platform Operations’ award from Brazil’s Petrobras

Dutch floater specialist SBM Offshore, operator of the Liza Destiny FPSO in Guyana, has received the ‘Best Oil Platform...

ExxonMobil comes up dry at Hassa-1 offshore Guyana

Drilling at the Hassa-1 prospect in the Stabroek block offshore Guyana has failed to encounter hydrocarbon resources, ExxonMobil said on Friday in response to...

Piping gas to shore brings major benefits, find the right investment balance urges analyst

The Guyana government is forging ahead with its plan to land a gas pipeline onshore to produce cheaper, cleaner energy and create new economic...

Demand for Guyana’s low-sulphur crude will grow in 2021, expert says

As the world continues to move towards renewable sources of energy, demand for crude with low-sulphur content will continue to increase, placing producers like...

Giant oil finds in Guyana and Suriname point to major frontier – Brazil Petroleum Studies

The recent giant discoveries made in the deep and ultra-deep waters of Guyana, Suriname and French Guyana have proven the existence of multiple active...

More Articles Like This